Posted by: janice shell In reply to: Smart_Quasi who wrote msg# 95191 Date:12/18/2007 5:57:41 PM Post #of 104575
SEC 10b-17 Notifications
When must a company report a declaration of a dividend?
Notice of the declaration of a dividend must be received at least 10 calendar days prior to the Record Date to be in compliance with Rule 10b-17 of the Securities and Exchange Act of 1934.
How does a company report a dividend?
To report a dividend, a company may complete either a Notification Form: Listing of Additional Shares or Notification Form: Cash Dividend/Distribution depending upon whether the dividend that is being declared is a stock dividend or a cash dividend. These completed forms may be sent via email to dividends@nasdaq.com or by fax to Corporate Data Operations at 203.385.6381.
What is a Record Date for a dividend?
The Record Date is the day on which the company's transfer agent compiles a list of those persons having shares registered in their names.
What is a Payable Date for a dividend?
The payable date is the day on which the registered holders will be mailed or electronically credited the distribution.
What is an ex-dividend date?
An ex-dividend date is the first day on which a security is traded without rights to a particular distribution. It is on the ex-dividend date that a security price is adjusted to reflect the dividend.
How is an ex-dividend date set?
All ex-dividend dates are established in accordance with the Uniform Practice Code (UPC Rule 11140). See NASDAQ Rule 11140.
What documents does NASDAQ require for a Forward Stock Stock Split?
The company should complete the Notification Form: Listing of Additional Shares (PDF) at least 10 calendar days prior to the record date. Please follow the instructions on the Form regarding its submission, which should include the following information:
Whether the shareholders have approved the transaction; The split ratio; The new CUSIP number, if changed; Total Shares Outstanding (TSO)/Par Value before and after the split; Whether all legal filings have been completed with the appropriate state or foreign agency; The effective date of the forward split (as of the opening of business); Proxy or Board Resolutions; and Amended Articles of Incorporation. If a new CUSIP number is required to effect the forward stock split, a fifth character, "D", will be appended to the issue symbol for 20 trading days to reflect the split.
What documents does NASDAQ require for a Reverse Stock Split?
The company should complete the Notification Form: Substitution Listing Event (PDF) at least 15 calendar days prior to the effective date. Please follow the instructions on the Form regarding its submission and the payment of the $7,500 required fee.
The submission should contain the following information as appropriate:
Whether the shareholders have approved the transaction; The split ratio; The new CUSIP number; Total Shares Outstanding (TSO)/Par Value before and after the split; Whether all legal filings have been completed with the appropriate state or foreign agency; The effective date of the reverse stock split (as of the opening of business); Proxy or Board Resolutions; and Amended Articles of Incorporation. A fifth character, "D", will be appended to the issue symbol for 20 trading days to reflect the reverse split.
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